Five Banks to loose licenses

At least five commercial banks in the country could lose their universal banking licenses later this week as the December 31 deadline to meet the new capital requirement draws to a close.

The Bank of Ghana raised the new capital requirement to GH¢400 million this year as part of firm measures to create a robust banking sector.

However, as at the close of work Friday, December 28 some had not met the new capital levels despite some last-minute manoeuvres, according to persons close to the regulator.

Second Deputy Governor of the Bank of Ghana, Elsie Awadzi, has, however, revealed that 20 banks have met the capital requirement.

Joy Business Editor, George Wiafe, reports that the five banks at the brink of losing their operating licenses “are strongly lobbying for last-minute government intervention.”

Meanwhile, Graphic Online is reporting that the government is set to announce a GH¢2 billion bailout package for some six indigenous banks to enable them to meet the recapitalisation deadline.

“The package was hurriedly put together this month for the six, which are seen as well-governed, solvent but unable to meet the BoG GH¢400 million new minimum capital for banks on their own, multiple sources familiar with the arrangement have told Graphic Online,” the online portal reported, Monday.

‘Compliance is the order of the day’

However, Economist at the University of Ghana Business School, Prof Godfred Bokpin, has said the central bank has remained firm on the December 31, 2018 ruling out the possibility of a last-minute bailout for banks struggling to raise the new capital level.

”Compliance is the order of the day,” he said Monday.

He added: “It is a bit too late for us to be in the last working day of 2018 and we are wondering which bank has met the requirement which bank has not. I think there should have been an earlier statement a week ago or so clarifying all these issues.”

He said by not issuing a clear statement about the banks that have met the requirement, the central bank risks causing panic in the sector.

credit: myjoyonline.com

Publish on Apt

Do you have any Social, informational, educational or entertaining stuff that should be featured on www.aptnewsghana.com?

Please submit your stories, pictures, and videos to us via WhatsApp: +233548388489 or click on the icon on your screen. Alternatively, email us: aptnewsghana@gmail.com

RSS APO Group – Africa-Newsroom: latest news releases related to Africa

  • Coronavirus - Gambia: COVID-19 update (15 April 2021) April 16, 2021
    Active cases: 348 New cases: 12 New tests: 325 Total confirmed: 5,694 Recovered: 5,176 (+11) Deaths: 170 (+0) Vaccinated: 18,428Distributed by APO Group on behalf of Ministry of Health, The Gambia.Media filesDownload logo
  • Coronavirus - Zambia: COVID-19 update (15 April 2021) April 16, 2021
    COVID-19 update - 15th Apr,2021: we report 143 new cases out of 5,696 tests (3% positivity), 42 recoveries; & 1 new death (MHSRIP); 106 vaccines were administered.Distributed by APO Group on behalf of Zambia National Public Health Institute (ZNPHI).Media filesDownload logo
  • Coronavirus - Eritrea: Announcement from the Ministry of Health (15 April 2021) April 16, 2021
    Seven patients have been diagnosed positive for COVID-19 in tests carried out today at Quarantine Centers in Gash Barka, Southern, Central, and Southern Red Sea Regions. Out of these, two patients are from Quarantine Centers in Tessenei (1), and Goluj (1), Gash Barka region. Two other patients are from the Quarantine Center in Mendefera, Southern […]
  • Coronavirus - Nigeria: COVID-19 update (15 April 2021) April 16, 2021
    80 new cases of COVID-19 in Nigeria; Lagos-29 Rivers-19 Zamfara-6 Akwa Ibom-4 Edo-4 Osun-4 Plateau-4 Ogun-3 Kano-3 Nasarawa-2 FCT-1 Oyo-1 164,080 confirmed 154,285 discharged 2,061 deathsDistributed by APO Group on behalf of Nigeria Centre for Disease Control (NCDC).Media filesDownload logo
  • Rugby sevens match officials unveiled for Tokyo Olympics with 100 days to go April 16, 2021
    Squad of 22 match officials from 12 countries selected for the Olympic Games in Tokyo; Inclusion of five international players who have swapped the playing shirt for the whistle, including New Zealand’s Rugby World Cup winner Selica Winiata; Eight female referees including two making their second appearances at the Olympic Games; Rugby sevens competition takes […]
  • Team Qhubeka ASSOS fired up for Amstel Gold Race April 16, 2021
    Amstel Gold Race is the first of three Ardennes Classics and the UCI World Tour ranked classic will take place on Sunday in South Limburg, Netherlands. The 55th edition of the Amstel Gold Race is set to be a unique edition of the race with a revised route, due to Covid-19 restrictions, consisting of a […]
  • Coronavirus - Ethiopia: COVID-19 update (15 April 2021) April 16, 2021
    Daily: Laboratory test: 8,878 Severe cases: 1,031 New recovered: 1,288 New deaths: 33 New cases: 2,149 Total: Laboratory test: 2,478,471 Active cases: 57,388 Total recovered: 175,879 Total deaths: 3,285 Total cases: 236,554Distributed by APO Group on behalf of Ministry of Health, Ethiopia.Media filesDownload logo
  • Coronavirus - Kenya: COVID-19 update (15 April 2021) April 16, 2021
    Download logo1,091 people have tested positive to the disease, from a sample size of 5,958 tested in the last 24 hours. Our positivity rate is at 18.3%. Total confirmed positive cases are now 149,219 and cumulative tests so far conducted are 1,584,731. County distribution; Nairobi 330, Murang’a 116, Kiambu 87, Kericho 65, Nakuru 63, Embu […]
  • African Legal Support Facility: Governing board lauds Covid-19 support to clients April 16, 2021
    Download logoThe governing board of the African Legal Support Facility (ALSF) (www.ALSF.int) has met to review its progress over the past year, noting its strong performance in providing solutions to its clients during the Covid-19 pandemic. The board approved the Facility’s draft annual report and 2020 financial statements, endorsing the extension of the Facility’s mandate, […]
  • Rugby Africa in Discussion with Mariama Diallo, The Senegal 15-a-side Women's National Team Captain April 16, 2021
    The Senegal 15-a-side women’s national team has resumed training, which has created a lot of excitement and enthusiasm among the players. Rugby Africa spoke to the team captain, Mariama Diallo, to find out what this means to her and her team-mates as they gear up to play matches in the coming months. 1. How excited […]
About Editor 614 Articles
Joe Bright Nyarko Journalist/Communication Researcher. Environment & Sustainability Advocate. Managing Editor of aptnewsghana.com, a non-profit news portal with bias towards environment and sustainability issues, rural development policies and gender & inequality.